Brazil’s Automotive Sector Sees Growth in February Production and Sales

Brazil’s automotive production surged by 23.8% to 217,631 units in February, with sales increasing 8% to 184,960 units. Renault reported 2.26 million vehicle sales in 2024, with strong regional performance and diverse service offerings contributing to its growth and market presence.

In February, Brazil’s automotive production experienced a significant increase of 23.8% compared to the prior month, amounting to a total of 217,631 units, as reported by the automotive association Anfavea. Additionally, auto sales in the country rose by 8%, reaching 184,960 units, indicating a positive trend in the automotive market of Latin America’s largest economy.

Renault, a notable global leader in the automobile industry, reported substantial net sales in 2024, with vehicle sales constituting 89.9% of its operations. This included a total of 2,264,815 vehicles sold, categorized by brand as follows: Renault (1,577,351), Dacia (676,340), Renault Korea Motors (6,539), and Alpine (4,855). The remaining 10.2% of revenue came from various services, including vehicle financing and maintenance.

As of the close of 2024, Renault operated 34 industrial sites internationally, highlighting its global presence. Geographically, the company’s net sales distribution was as follows: France accounted for 29.9%, Europe for 49.8%, the Americas for 8.3%, Eurasia for 5.1%, Asia/Pacific for 3.9%, and Africa and the Middle East for 3%.

In summary, Brazil’s automotive sector showed marked improvements in both production and sales during February, indicating a strong recovery. Concurrently, Renault’s performance in 2024 reflects its robust market presence globally, with a diverse range of vehicle sales and services that contribute significantly to its net revenue. These developments highlight the resilience and growth potential within the automotive industry.

Original Source: www.marketscreener.com